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Korea's per capital debt has hit a new high of W15 million for the first time (US$1=W988). This is reportedly due to an increase in the number of Koreans borrowing money to invest in the stock market last year.
The Bank of Korea unveiled in its 2007 report Thursday that the combined debt individuals owed to financial institutions surged 10 percent from a year earlier to a total of W740 trillion.
This is the third consecutive year of double-digit growth in private debts.
Meanwhile, along with the growing stock volatility the country's total financial assets posted $8 trillion at the end of last year, up 15 percent from 2006.
Arirang News
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